New Jersey – Legislation effective December 11 aligns corporation indemnification law with neighboring states

New Jersey – Legislation effective December 11 aligns corporation indemnification law with neighboring states

December 16, 2014

Assembly Bill 2603 (Chapter 2014‑77) signed by the governor and effective December 11 makes the corporate indemnification law consistent with Delaware and New York by removing a requirement that the board of directors authorize the advancement of expenses and allowing the board to delegate responsibility for the authorization to the officers of the corporation.